India, Japan Sign Exchange of Notes and Loan Agreements

India and Japan have signed Exchange of Notes and Loan Agreements on Japan’s Official Development Assistance Loan to India. The Notes were exchanged between Dr. C.S. Mohapatra, Additional Secretary in Department of Economic Affairs, Union Ministry of Finance and Kenji Hiramatsu, Ambassador of Japan to India on Japanese official development assistance loan for three projects.

These 3 projects are: 

(i) Chennai Metro Project (Phase 2) (I) for Japanese Yen (JPY) 75.519 billion,
(ii) Program for Japan-India Cooperative Actions towards Sustainable Development Goals in India for JPY 15.000 billion,
(iii) Project for Dairy Development for JPY 14.978 billion.

Source- Press Information Bureau (PIB)

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

  • Japan Capital: Tokyo, Currency: Japanese yen, PM: Shinzo Abe.

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